IRVINE, Calif., Jan. 6, 2022 /PRNewswire/ -- Alteryx, Inc. (NYSE:
AYX), the Analytics Automation company, today announced it has
entered into a definitive agreement to acquire Trifacta, an
award-winning cloud company that leverages scalable data management
and machine learning to make data analytics faster and more
intuitive.
Alteryx Announces Acquisition of Trifacta
Enterprise customers are deploying modern data architectures
built upon cloud data warehouses and supporting SaaS-based
applications and analytics. Meanwhile, business users' appetite for
timely insights from these large cloud datasets to fuel their
digital transformation efforts is at an all-time high, thus driving
the need for scalable, secure solutions to access and automate data
analysis.
Trifacta offers cloud-first capabilities to help enterprises
drive their analytics transformation and has gained a strong
footprint into Global 2000 and large enterprises. This acquisition
will anchor and accelerate Alteryx's journey to the cloud and open
new categories of buyers across IT within large enterprises.
"Trifacta brings highly skilled cloud-first engineering, product
and go-to-market teams with decades of combined experience building
and bringing to market mission-critical, cloud native analytics
solutions. Together, Trifacta and Alteryx expand our total
addressable market with additional opportunities to target new data
and cloud transformation initiatives for Global 2000 customers,"
said Mark Anderson, CEO of Alteryx.
"With Trifacta, our combined cloud platform will serve the needs of
entire enterprises from data analytics teams and IT/technology
teams to line of business users."
Trifacta provides proven, scalable cloud data management
capabilities natively and securely for major cloud deployments,
including Google Cloud Platform (GCP), Amazon Web Services (AWS)
and Microsoft Azure. Alteryx intends to combine its leading low
code/no code analytics solution with Trifacta's cloud native
capabilities to offer flexible deployment options — on-premises,
hybrid and cloud — to meet enterprise customers' analytics
needs.
"We're incredibly excited to join forces with Alteryx to create
the industry's leading independent cloud analytics provider," said
Adam Wilson, CEO of Trifacta.
"Together, we have the opportunity to enable thousands of customers
globally to unlock powerful business insights with the combination
of Trifacta's Data Engineering Cloud and Alteryx's Analytics
Automation platform."
Alteryx will acquire Trifacta for $400
million in cash, subject to customary purchase price
adjustments. Alteryx will also establish a retention pool of
$75 million to be granted in the form
of restricted stock units to the former employees of Trifacta. The
transaction is expected to close during the first quarter of 2022
and is subject to customary closing conditions. Until the
transaction closes, each company will continue to operate
independently. Goldman Sachs is serving as the exclusive financial
advisor to Alteryx and J.P. Morgan is serving as the exclusive
financial advisor to Trifacta in connection with the transaction.
Fenwick & West is serving as Alteryx's legal counsel and
Gunderson Dettmer is serving as
Trifacta's legal counsel in connection with the transaction.
Fourth Quarter 2021 and Full Year Financial Outlook
Update
Revenue and annual recurring revenue ("ARR") for the quarter
ended December 31, 2021 are now
expected to be at or above the high end of our previously issued
guidance of $163 million to
$168 million for revenue and
$635 million in ARR.
This updated financial outlook is based on information available
to Alteryx as of the date of this release and is subject to the
completion of its quarterly and annual financial closing procedures
and review by Alteryx's independent registered public accounting
firm.
Alteryx expects to report its fourth quarter and full year 2021
financial results and host a conference call to discuss these
results after the U.S. financial markets close on Tuesday, February 15, 2022.
Additional Information
https://investor.alteryx.com/files/doc_financials/2021/q4/AYXAcquisision.1.2022.pdf
Safe Harbor Statement
This press release contains
forward-looking statements that involve risks and uncertainties,
including statements regarding the acquisition of Trifacta and its
impact on the Alteryx software platform and its customers, users,
financial results and total addressable market; the effectiveness
of Trifacta's cloud-native capabilities and cloud-focused teams;
the ability of Alteryx and Trifacta to combine Trifacta's
technology with the Alteryx software platform; the strategy
regarding integrating Trifacta's technology, go-to-market
operations and people with those of Alteryx; the anticipated
benefits and features of an integrated software platform and its
ability to accelerate achievement of Alteryx's strategic
initiatives; the timing of the closing of the transaction; customer
trends and initiatives regarding their digital and data
transformations; Alteryx's financial guidance for the fourth
quarter and year ended December 31,
2021; and other future events. These forward-looking
statements are only predictions and may differ materially from
actual results due to a variety of factors including, but not
limited to: the ability to integrate Trifacta's employees,
operations and technology into Alteryx's business and software; the
benefits of the acquisition and impact on the Alteryx software
platform, customers, users, financial results and total addressable
market; the ability of Alteryx and Trifacta to close the announced
transaction; the possibility that the closing of the transaction
may be delayed; the effects of disruption from the transaction
making it more difficult to maintain relationships with employees,
customers and other third parties; risks associated with Alteryx's
international operations; the ability to develop and release
product and service enhancements and new products and services to
respond to rapid technological change in a timely and
cost-effective manner; the ability to attract new customers and
retain and expand sales to existing customers; intense and
increasing competition in Alteryx's market; the rate of growth in
the market for analytics products and services; and other general
market, political, economic, and business conditions.
Additional risks and uncertainties that could affect Alteryx's
business are included in the Risk Factors sections of Alteryx's
Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and Quarterly Report on Form
10-Q for the quarter ended September 30,
2021. All forward-looking statements contained herein are
based on information available to us as of the date hereof and we
do not assume any obligation to update these statements as a result
of new information or future events.
About Alteryx
Alteryx, the Analytics Automation
company, is focused on enabling every person to transform data into
a breakthrough. Alteryx unifies analytics, data science and
business process automation in one, end-to-end platform to
accelerate digital transformation and shape the future of analytic
process automation (APA). Organizations of all sizes, all over the
world, rely on Alteryx to deliver high-impact business outcomes and
the rapid upskilling of their modern workforce. For more
information visit www.alteryx.com.
Alteryx is a registered trademark of Alteryx, Inc. All other
product and brand names may be trademarks or registered trademarks
of their respective owners.
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SOURCE Alteryx, Inc.